These days, trying to survive and thrive in the world of CPG feels a bit like playing a part in the tale of David and Goliath. The United States economy has been on unstable ground for several years . A great many consumers have been feeling like they are in a financial “holding pattern”– things are not declining, but they are not improving, either.
Pessimistic shoppers are continuing to struggle to make ends meet. Optimistic shoppers feel that things are getting better, but a strong sense of frugality is permeating their daily lives, their shopping behaviors and their consumption patterns. Meanwhile, CPG marketers have been wrestling with rising commodity prices, and increased input costs all along the supply and delivery chain. The net result of these forces has been intense margin strain and ongoing growth issues.
The CPG industry, as a whole, is in search of firm footing. Across CPG channels, departments, categories and brands, there are CPG marketers that are dialing into and delivering against the needs and wants of their shoppers. Indeed, while the war is far from over, there are battles being won.
SymphonyIRI’s latest research points to the following factors/trends being most critical in CPG strategies - access the report here